2005 Independent Financial Audit
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Summary Statement of Financial Position
| 2005 | 2004 | |
| Assets | 6,507,419 | 4,659,908 |
| Liabilities | 670,359 | 766,096 |
| Net Assets | ||
| Unrestricted | 3,782,712 | 3,499,889 |
| Temporarily Restricted | 1,745,807 | 185,456 |
| Permanently Restricted | 308,541 | 208,467 |
| Total Net Assets | 5,837,060 | 3,893,812 |
| Total Liabilities & Net Assets | 6,507,419 | 4,659,908 |
Statement of Activities
| 2005 | % of
2005 Income |
2004 | |
| Contributions* | 4,514,129 | 87.6% | 2,593,088 |
| REVENUE | |||
| Conference Centers | 556,842 | 10.8% | 625,697 |
| Regional Ministries | 18,437 | 0.4% | 25,905 |
| Other | 66,166 | 1.3% | 39,437 |
| Total Income | 5,155,574 | 100.0% | 3,284,127 |
| EXPENSES | |||
| Conference Centers | 1,225,937 | 23.8% | 1,206,744 |
| Academies and ROTC | 416,772 | 8.1% | 411,305 |
| Regional Ministries | 388,529 | 7.5% | 347,082 |
| Publications | 247,533 | 4.8% | 257,403 |
| Education Centers | 182,320 | 3.5% | 172,377 |
| Director of Field Outreach | 72,368 | 1.4% | 81,586 |
| Executive Ministries | 12,471 | 0.2% | 10,963 |
| Administration | 478,868 | 9.3% | 405,777 |
| Fund Raising | 187,528 | 3.6% | 144,178 |
| Total Expenses | 3,212,326 | 62.3% | 3,037,415 |
| Changes in net assets | 1,943,248 | 37.7% | 246,712 |
| Net assets, beg. of year | 3,893,812 | 3,647,100 | |
| Net assets, end of year | 5,837,060 | 3,893,812 |
*Includes contributions to all components of the ministry.